GST Audit for Fy.2017-18 audit completed in June 2024 are we liable to pay RCM for this financial

GST Audit for Fy.2017-18 audit completed in June 2024 are we liable to pay RCM for this financial

Replies (1)

Based on the information provided, it seems that the GST audit for FY 2017-18 was completed in June 2024. Regarding the liability to pay Reverse Charge Mechanism (RCM) for this financial year: 1. RCM applicability: Check if RCM was applicable for the specific services or goods received during FY 2017-18. 2. Audit findings: Review the audit findings to determine if any RCM-related liabilities were identified. 3. Statute of limitations: Consider the statute of limitations for GST assessments, which is generally 3-5 years from the end of the financial year. Since the audit was completed in June 2024, the statute of limitations may have expired for FY 2017-18. 4. Consult a tax professional: It is recommended to consult a tax professional or GST expert to: a. Confirm the applicability of RCM for FY 2017-18. b. Review the audit findings and determine if any RCM-related liabilities were identified. c. Assess the impact of the statute of limitations on potential RCM liabilities. d. Ensure compliance with GST regulations and address any potential liabilities or penalties. Please note that GST laws and regulations are subject to change, and this response is based on general information. A tax professional or GST

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details